Local governments capital improvements revolving loan program; revise definition of "capital improvements", extend repealer on MDA authority to use certain funds for expenses.

HB 1461 revises Mississippi's definition of "capital improvements" to include any project the Mississippi Development Authority (MDA) determines qualifies as such, expanding eligibility for local government loans. This affects counties and municipalities seeking funding for projects like infrastructure, economic development, or recreational facilities through the MDA-administered revolving loan program. The bill also extends the expiration date for MDA's authority to use certain loan fund interest for its general operations (previously set to end in 2029). These changes aim to increase flexibility for local governments accessing capital improvement funding while maintaining MDA's oversight role.